This article will describe how to manually change fee parameters for your Ethereum transactions in Ledger Live. Custom transactions can be used to send ETH or ERC20 tokens on the Ethereum network.
A few things to keep in mind before we start
- Transaction fees on Ethereum are paid to Ethereum validators, not to Ledger. As a result, we are not able to refund transaction fees.
- The Ethereum fee market is very competitive and obeys free market mechanics. In other words, the higher the gas price and gas limit, the higher the chance that the transaction will succeed and be processed quickly.
- More information about gas price and gas limit can be found here.
Creating a custom Ethereum transaction
- Open Ledger Live and navigate to the Send tab
- Select your Ethereum account, paste the recipient address and click Continue.
- In the next screen, select the Amount then click Advanced.
- Select Edit.
- Select the Max Fee and Gas limit.
You can use this dashboard to help you select the optimal Max Fee
and the optimal Gas limit for your type of transaction. Typically, sending an ERC20 token will require about ~65,000 gas limit but this number could vary.
- Review your transaction. If all looks good, click continue then confirm your transaction on your Ledger device.